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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash Flows Used in Operating Activities    
Net loss $ (21,747) $ (8,897)
Adjustment to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 81 8
Amortization of intangible assets 431 20
Amortization of right-of-use asset 177 0
Non-cash interest expense, net 267 456
Stock-based compensation 3,844 2,766
Change in fair value of JV obligation 0 197
Change in fair value of convertible notes payable (12,882) 0
Inducement loss on debt conversions 6,732 0
Change in fair value of warrant liability 281 126
Change in fair value of warrant asset 24 0
Unrealized gain on foreign currency transactions (123) 0
Other 34 0
Changes in operating assets and liabilities:    
Accounts receivable and other receivables (72) 127
Inventory 271 0
Prepaid expenses and other current assets 247 28
Other assets 32 0
Accounts payable 2,514 1,160
Related party payables 0 64
Accrued expenses and other current liabilities 5,708 561
Accrued interest 154 398
Deferred revenue (115) 0
Operating lease obligation (163) 0
Net Cash Used in Operating Activities (14,305) (2,986)
Cash Flows Provided by Investing Activities    
Purchase of property and equipment (54) (3)
Cash received in purchase of Inpixon 2,968 0
Purchase of intangible asset (39) 0
Net Cash Provided by Investing Activities 2,875 (3)
Cash Provided by Financing Activities    
Proceeds from sale of common stock and exercise of warrants 2 224
Net proceeds from ATM stock offering 9,582 0
Net proceeds from promissory notes 2,000 2,150
Net proceeds from loan from Inpixon (prior to merger) 1,012 0
Net proceeds from convertible notes 0 750
Repayments of promissory notes (668) (14)
Net Cash Provided by Financing Activities 11,928 3,110
Effect of Foreign Exchange Rate on Changes on Cash 8 0
Net Increase (Decrease) in Cash and Cash Equivalents 506 121
Cash and Cash Equivalents - Beginning of period 5 115
Cash and Cash Equivalents - End of period 511 236
Cash paid for:    
Interest 54 1
Income Taxes 16 0
Non-cash investing and financing activities    
Common shares issued for conversion of debt and accrued interest 9,614 0
Common shares issued in exchange of warrants 1,698 0
Deemed dividend related to December 2023 warrant exchange 283 0
Common shares issued as settlement of accrued compensation 2,293 0
Common shares issued as prepayment for services 335 0
Issuance of common stock for merger consideration, net of cash received 22,637 0
Right of use asset obtained in exchange for lease liability 394 0
Capital contribution - forgiveness of related party payable 380 0
Series 9 preferred stock dividend accrued 496 0
Deemed dividend related to Series 9 preferred stock exchange 231 0
ATM proceeds withheld as payment towards accounts payable 128 0
Warrants issued with convertible notes 0 967
Warrants issued with common stock 0 121
Reclassification of JV obligation to equity 0 5,583
Series 9 Preferred Stock    
Non-cash investing and financing activities    
Common shares issued in exchange of Series 9 preferred stock $ 4,625 $ 0

Source

10-Q PDF
XBRL